OT (kinda): not so ...
 
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OT (kinda): not so fast sez the vi irb...

 

A Davis
(@A_Davis)
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June 2, 2009 3:23 am  

Brief: Don't Cash that IRB Refund Check
http://www.onepaper.com/stthomasvi/?v=d&i&s=News%3ALocal&p=1243828894


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Trade
(@Trade)
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June 2, 2009 9:18 am  

I wonder if they had several extra zeros on the end?


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A Davis
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June 2, 2009 10:54 am  

from what one person said in another space about this, it was readily apparent that there had been an error. the phrase "big dollars" was used. i'd like to think that we knew what to expect on our refund checks, and if it was out of hand, we'd say something to the vi irb... i am sure it was a citizen that alerted them to this.


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jefgar
(@jefgar)
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June 2, 2009 1:22 pm  

I was taught never to give the IRB more money that you owe -- and to adjust withholding downward, as required, to ensure you OWE IRB at tax time -- 'cause one is never sure whether one will get a refund.........


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billd
(@billd)
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June 2, 2009 1:45 pm  

jefgar

You are 100% right. On two accounts. The first is why give them your money to use during the year. The second is you may not get it back, let alone it may be wrong IF YOU GET IT.

The only exception to this is if you can't manage your money. Then you can let others manage you!

BILLD


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dntw8up
(@dntw8up)
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June 2, 2009 4:36 pm  

You forgot the other exception is if you max out your withholding and are still due a refund at the end of the year.


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billd
(@billd)
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June 2, 2009 5:35 pm  

dntw8up

What do you mean that you are maxed out on withholding?

billd


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LuckyGirl56
(@LuckyGirl56)
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June 2, 2009 7:34 pm  

Just got back from the bank on STX. Lady in front of me was trying to cash her $4000.00 tax refund check. The teller told her she couldn't cash it as it had to be returned to IRB in Sunny Isle. I also had to drop something off at IRB and there were several people in the lobby, being helped by IRB employees who were accepting the individuals checks back and verifying social security #'s, addresses, etc. and taking the checks back.


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islandtyme
(@islandtyme)
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June 2, 2009 7:36 pm  

guess it just pays to owe the IRB..........


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dntw8up
(@dntw8up)
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June 2, 2009 8:48 pm  

billd,

I have a three person family and put the maximum number of dependents (14 or 16 or whatever it is) on employer's withholding form (W-4?) and am still owed a refund $ every year.


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East Ender
(@east-ender)
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June 2, 2009 9:01 pm  

A co-worker went to the IRB today on another issue, but said the place was clogged with people wanting to know if their check was good. And evidently the banks are refusing to cash ANY of them! What a debacle!


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Exit Zero
(@exit-zero)
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June 2, 2009 10:48 pm  

Can't hardly blame the Banks -- probably will be true for weeks too.


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A Davis
(@A_Davis)
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June 2, 2009 11:39 pm  

well, mine was for the exact amount expected so i was ok. deposited mine.

i usually don't get such a refund, sometimes a owe a couple hundred. but this year is different... could be some tax cut from the previous administration.


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